Bitcoin reached $85,276 on Sunday, up 0.83% over 24 hours, but remained below the $86,000 level reached before the US jobs report release. US spot Bitcoin ETFs recorded net inflows of $102 million on October 1, before the employment data. The probability of another Fed rate hike in October fell from 66% to 22%, according to Glassnode’s calculations using fed funds futures. Open interest rose $2.1 billion in the 24 hours before payrolls, then retreated $1.5 billion after the release. Monday’s ISM services report and upcoming ETF flows will determine whether the recovery can sustain beyond short-covering activity.
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